WASHINGTON – U.S. Congressman Jeb Hensarling (R-TX), a leading conservative and chairman of the House Financial Services Committee, released the following statement today after House passage of the SGR Repeal and Medicare Provider Payment Modernization Act of 2014 (H.R. 4015), which would reform the Medicare payment system.

“The current Sustainable Growth Rate (SGR) formula, on which Medicare reimbursement rates are based, fails to provide the certainty doctors need to continue providing quality and affordable care to their patients. Combined with Obamacare’s over $700 billion in cuts to Medicare, the end result is a situation where American seniors are having trouble accessing care.

“For too long, Congress has kicked the can down the road and passed short-term patches that temporarily ward off deep cuts in Medicare reimbursement rates today, but leave even larger cuts looming tomorrow. I’m pleased that today’s legislation creates a long-term fix that will provide the certainty that doctors need, the protection American taxpayers expect, and the care and service seniors deserve. I’m also pleased that this legislation provides relief for individuals from the uncertainty of Obamacare’s individual mandate, delaying it until 2019 for all Americans—not just the select few that the Obama Administration has deemed worthy.

“Medicare is an important program for our seniors. Though today’s reforms are an important and necessary step, they fall far short of the meaningful reforms needed to save the program and ensure its existence for future generations. We must reform the system to ensure that it is patient-centered, allows patients to choose their doctors, and provides catastrophic coverage for those who truly cannot afford it.”